Caroline Kennedy, author, lawyer at Brookline Booksmith in Brookline, Mas., where she was promoting her new poetry anthology "Poems to Learn by Heart." Kennedy is now selling two parcels of land on Martha's Vineyard.

A rare opportunity? Two prime parcels of beachfront property are for sale on Martha's Vineyard.

Caroline Kennedy is selling two parcels of land, which have been part of the fabled Kennedy 366-acre estate on Martha's Vineyard.

Two waterfront parcels in the town of Aquinnah are on the market -- a 39.5-acre (16-hectare) property available for $20 million, and a 53.5-acre piece for $25 million, according to the listings for 6 Red Gate Farm and 8 Red Gate Farm, Bloomberg reports.

“An exclusive waterfront property with incredible views of Squibnocket Pond , with further views over towering sand dunes to the Atlantic Ocean," reads the listing on The Vineyard Realty Group website. This property consists of 39.51 acres with over 1000 feet of frontage on the pond and over 1000 feet of frontage on the stream connecting to Menemsha Pond. Plenty of privacy with varied topography and easy pond access. Yours to create a marvelous estate."

In 2005, Caroline Kennedy and her husband, Edwin Schlossberg subdivided the property as a way to both protect and preserve the property for their their children. The property was divided "into 7 large parcels, 3 for their children, 2 to sell if necessary, 1 for the homestead that exists, and 1 declared forever undeveloped for ecological and environmental preservation. Caroline and Ed have renovated and expanded the house in recent years," according to Steven L. Brawley, who describes himself as "a serious Jackie Bouvier Kennedy Onassis fan and historian" on his website, Pinkpillbox.com.

The two properties for currently for sale are the two set aside in 2005 "to sell if necessary."

Kennedy comes as close as any American to being royalty, and her high-profile role in boosting President Obama back when he was a first-time presidential candidate pretty much guaranteed her a primo assignment. She was reportedly offered Canada but declined.

So why is all this happening now, and not after Mr. Obama’s first presidential election? Part of the reason may well lie in the new occupant of the State Department’s seventh floor: Secretary of State John Kerry, former senator from Massachusetts. Secretary Kerry’s predecessor, Hillary Rodham Clinton, had vied mightily with Obama in 2007 and 2008 for the Democratic presidential nomination. Kennedy’s endorsement of Obama in January 2008 was seen as a major blow to then-Senator Clinton.

“I have never had a president who inspired me the way people tell me that my father inspired them,” Kennedy wrote at the time in an op-ed in The New York Times.

“You’re a wonderful ambassador for poetry,” a reporter tells Caroline Kennedy, as hundreds of people line up outside the Coolidge Corner Theater in Bookline, Mass., waiting to hear Kennedy speak about "Poems to Learn by Heart," the latest collection of poetry for which she has served as editor.